Life is full of big changes—some exciting, some unexpected—but they all have the potential to impact your estate plan. Significant life events, from marriage to financial shifts, can alter your wishes, legal responsibilities, and asset distribution. If you don’t review and update your estate documents accordingly, state laws or outdated instructions may determine what happens to your assets. Here are key moments when reviewing your estate plan is essential.

Marriage or Divorce

Marriage dramatically changes your legal and financial landscape, affecting how assets are distributed. Similarly, divorce demands immediate updates to prevent unintended beneficiaries from inheriting your assets. Take proactive steps to review your estate plan after saying "I do" or after ending a marriage to ensure it reflects your current wishes.

Becoming a Parent

The arrival of a child is an exciting milestone. It’s crucial to ensure your children are financially protected, with clear guardianship designations in place in case of unforeseen events. Reviewing your estate plan ensures your child’s future is secure and that your intentions are clear.

Moving to a New State

Estate planning laws vary significantly by state. If you relocate, it’s wise to update your will, trust, or other documents to comply with local laws and maintain their validity. Consulting an estate attorney can smooth this transition and ensure your plan is up-to-date.

Significant Changes in Assets

Financial landscapes can change rapidly, whether through receiving an inheritance, starting a business, or facing financial hardship. Whenever your financial situation shifts significantly, it’s a good time to reassess your estate planning goals and update documents to reflect your new circumstances.

Death of a Beneficiary or Executor

If someone named in your estate plan, such as a beneficiary or executor, passes away, it’s important to update these designations to ensure your wishes are still carried out as intended. Regular reviews will help your estate plan remain aligned with your goals.

A well-maintained estate plan provides peace of mind by ensuring your assets are distributed according to your wishes. Consider seeking professional estate planning guidance to help navigate these changes smoothly. Consulting with an estate planning attorney can offer clarity and direction, tailored to your unique situation. Ensure your estate plan evolves with you and continues to serve your best interests throughout your life’s journey.